Rapid Digitalisation Ushers in New Era of Payments Innovation
Piggy-backing on the rapid digitalisation that is in train across the global economy, payments innovation has gathered speed in recent years. Here, two experts from BNP Paribas highlight some of the exciting and successful payments initiatives the bank is engaging with, including the European Payments Initiative, which promises to deliver profound benefits for corporates and consumers across the region. They also highlight key strategic partnerships and acquisitions the bank has made, such as BNPL leader, FLOA, to stay ahead on the innovation curve.
This article forms part of TMI and BNP Paribas’ Transformative Innovation’ Guide, please click the button below to download the guide in its entirety.
Fuelled by new technologies and evolving business models, together with the emergence of new market players, a fresh era of innovation in payments was already in evidence before Covid-19. But the pandemic has helped to further accelerate the shift to digital payments. As a result, the behaviours of consumers and businesses are being reshaped, not least when it comes to paying for goods and services and receiving or transferring money.